Government Invests INR 211 Cr to Boost Spacetech Startups Under FFS Scheme Union Minister Piyush Goyal said the move will strengthen domestic innovators with access to vital resources, helping position India as an emerging global space power.

The Union Government has announced investment support of INR 211 crore under the Fund of Funds for Startups scheme, marking a significant boost for India's expanding space technology ecosystem.

Union Minister Piyush Goyal said the move will strengthen domestic innovators with access to vital resources, helping position India as an emerging global space power.

The initiative is guided by Prime Minister Narendra Modi's vision of fostering innovation, youth-led entrepreneurship, and the transformative application of space technology.

The Fund of Funds for Startups, managed by SIDBI, supports SEBI-registered Alternative Investment Funds which in turn invest in promising startups. By June 30, 2025, the scheme had committed INR 9,994 crore across 141 funds, which are required to invest at least twice the committed amount in the startup ecosystem.

India's space sector has witnessed remarkable growth in recent years. More than 350 startups are currently active in the field, while the national space budget has nearly tripled in a decade, rising from INR 5,615 crore in FY14 to INR 13,416 crore projected for FY26.

Earlier this year, Union Minister Jitendra Singh announced an INR 1,000 crore funding initiative to further support space startups. Prime Minister Modi has also set an ambitious target for the sector, urging innovators to create five unicorns in the next five years and scale annual rocket launches from the present five to six to as many as 50.

In parallel, private sector interest is also deepening. Reliance Industries is reportedly in discussions to lead a USD 50 million funding round in Digantara Research and Technologies, a startup working on space situational awareness. Other key players in the sector include Skyroot, Pixxel, NewSpace, Agnikul Cosmos, and SatSure.